Work Values Ethic, GNP Per Capita and Country of Birth Relationships

Workplaces around the world have experienced extraordinary changes to the composition of their workforces and the nature of work. Few studies have explored workers from multiple countries of birth, with multiple religious orientations, working together within a single country of residence. Building on and extending the Work Values Ethic (WVE) literature, we examine 1,382 responses from employees working in three manufacturing companies. Differences were found in the mean WVE scores of groups of respondents from 42 countries of birth. Their WVE scores were strongly associated with their birth countries’ per capita Gross National Product (GNP), and the means of these scores did not change with variations in the respondents’ length of residence in a different country. These results have implications for developing cross-cultural management practices and for improving relationships with employees, with opportunities for increased commitment and, potentially, productivity.     

Conceptualising consumers’ word-of-mouth behaviour intention: evidence from a university education services in Malaysia

The aim of this study is to propose a theoretical model to examine consumer word-of-mouth (WOM) behavioural intention in Malaysian education services. The results from a survey of 247 respondents indicate that servicescape, service recovery, service quality and satisfaction significantly affect consumers’ intention to engage in WOM behaviour. The results support majority of the hypothesized relationships, suggesting that servicescape and service recovery function as antecedents, directly affecting consumer perceptions of education service quality. The analytical results also demonstrate that perceived service quality positively affects satisfaction, which subsequently induces consumers’ behavioural intentions. Consistent with previous empirical studies, our findings suggest that satisfaction is a super-ordinate construct with a positive relation to behavioural intention, and significantly mediates the effect of service quality on the intention to engage in WOM behaviour. The insignificant direct effect from service quality to WOM further suggests the role of satisfaction as a complete mediator in the university education service setting. Implications for future research are discussed and limitations noted.     

INTRAINDUSTRY SPECIALIZATION AND THE UNITED STATES–CENTRAL AMERICA–DOMINICAN REPUBLIC FREE TRADE AGREEMENT

This paper examines changes in intraindustry specialization indicators over the 1992–2004 period to assess the potential for structural adjustment problems that may arise in the United States with growth in trade resulting from the United States–Central America–Dominican Republic Free Trade Agreement (CAFTA‐DR) between the United States and six Central American countries—Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, and the Dominican Republic. CAFTA‐DR will expand market access for US exporters. Few US industries are likely to encounter structural adjustment problems. Given the relatively large size of the US economy, and the small number of industries that face potential adjustment pressures, the United States should have liberalized all trade immediately. When potential adjustment pressures are indicated, long tariff phaseouts, complex rules of origin, and import safeguards are used to delay factor adjustments in import‐sensitive industries.     

Dividend Forecast Biases in Index Option Valuation

Since the early days of option pricing theory,the assumption that the dividends on the underlying stock or index over the life of the contract are known has not been challenged. We examine the sensitivity of index option prices to the assumption of dividend uncertainty. We consider a number of issues related to the forecasting of dividends and build a dividend forecasting model that passes several rigorous tests for unbiasedness. We then generate option prices using contemporary market levels and interest rates. We find that prices generated with the actual dividends are unbiased with respect to those generated using the forecasted dividends. The magnitudes of the forecast errors, however, are sufficiently large to suggest a concern, but the percentage errors are consistently small, typically amounting to less than two percent of the option price. We conclude that the convenient assumption that the stream of future dividendsis known is probably innocuous. This revised version was published online in November 2006 with corrections to the Cover Date.     

Investigating the importance and cognitive satisfaction attributes of service quality in restaurant business - a case study of TASTy steakhouse in Taiwan

ABSTRACT

In this research, we proposed an effective approach to investigate the importance and satisfaction attributes of service quality of a restaurant business. For understanding the gaps of service quality cognition between consumers and servers, our work can be used as a reference for helping restaurants improve their service quality and reuse their resources effectively. We applied DINESERV scales and five-point Likert scales as quantitative research tools. The Kano model, customer satisfaction index, regression analysis, improvement effort index, and importance-performance analysis (IPA) were applied as measurement tools to examine the importance of various service attributes. Our approach was implemented in a famous restaurant in Taiwan: TASTy Steakhouse. The relative priority of service quality attributes for improving this chain restaurant and its competitiveness are ranked and discussed.     

A subjectivist essay on modern labor economics

Subjectivist methodology has attracted an increasing number of adherents as a result of the recent reemergence of the Austrian school. The new Austrian school has challenged the methodological approach of neoclassical economics in many areas. This essay seeks to extend that challenge into the area of labor economics. Modern labor economics, viewed from a subjectivist perspective, is argued to merit a mixed review. However, it is also argued that neoclassical labor economists (as compared with neoclassicists in other specialized areas) seem quite amenable to incorporation of subjective elements into their analysis.     

CONSTRAINED NON–LINEAR LEAST SQUARES

Abstract. Asymptotic properties of the constrained non–linear least squares estimator and the associated Lagrangian multipliers are derived, extending the results of LOTKEPOHL (1983).